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FOX Business
Jun 19, 2013 1:00pm EDT
? this global economy. certainly, ups is a definite no whether to where we are headed. right now, checking out stocks. nicole petallides on the floor of the new york stock exchange. nicole: the dow jones industrials down about 28 points. not to off the unchanged line. there is this wait and see mode today. the last trading days have been up more than 100 trading points. the volatility is back. it has been the name of the game since may 22. we heard that tapering maybe in the future. right now everyone is just waiting to see what the fed really has to say. the language is so key here. everyone is waiting to see. right now you can see that the dow is down just slightly. lori: you summed it up beautifully for us. we will get one of the most federal reserve statements ever and less than an hour. will we get any clue as to when tapering will begin? thank you so much for joining us. what are you expecting to hear from the fed today? >> i expect no change. the statement is key. i will look for the labor market. is this the best that we are going to get? if, yes, i expect the taper to put off. lori: o
FOX Business
Jun 20, 2013 1:00pm EDT
. the difference this time around, the economy is better, housing is better, the labor market is better. this time around, i think it is a little different, a little bit better fundamental backdrop. tracy: let's talk about how we can position our bonds for it. >> it is hard to know exactly where this will settle out. the move of two to 40 has been pretty dramatic. we may have already covered a lot of the ground we will cover. on the equity side, i think you have to be overweighted in the u.s. still. i like the domestics of the goals. we are the only major market in the world that is growing and i think stocks here are still reasonably priced. tracy: i know you also like tech. >> the problem with tech is you have to be a little discriminating because as a factor, it derives more of its product overseas than ever. the tech sector, in my view, again, is pretty reasonably valued. tracy: we have to talk about commodities. gold is down. event gold typically down this time of year? >> i would not be getting into gold. i think gold is being washed out as a result of the fed's projections. the rest of the
CNBC
Jun 21, 2013 6:00am EDT
what he said? valuations are attractive still. businesses are doing well. the economy is strengthening. get this. he says even with $20 billion, he opportunity have enough money to take advantage of all the opportunities here. >> 20. it's not all his. >> he says he's not looking at this point like, look, maybe the rate of the market has slowed down. we're not talking about three year doubles at this point. he says for his funds he's looking more five or six years for doubling. maybe nine or ten for the market. still talking about a very strong market and a place he sees great opportunity. >> these are times you try to keep your cool. >> got to have some powder. got to have dry powder. >> i wish we had all the guys looking for -- if they were to come on and say no, no, no, i'd feel better. they're never able to pull the trigger. want to go overseas? >> i think we should. for a moment. >> take us there. >> i hear this whole thing in china is kind of just not just ben bernanke creating some problems. let's talk about trading in asia and europe today. ross westgate standing by in london. f
CNBC
Jun 20, 2013 6:00am EDT
this year. if they remain broadly aligned with our current expectations for the economy, we will continue to reduce the pace of purchases in measured steps through the first half of next year ending purchases around mid year. >> the bonds finished in the red as the blue chip index showed its seventh straight move. all the main s&p sectors closed lowers. the worst performers were defensive sectors. telecons. this is what people had been warning us, look out for those stocks that act more like bonds. that's exactly what happened yesterday. the yield on the ten year treasury, it hit a 15-month high if you take a look at that. 2.426%. this is a concerning move. this morning the dow futures are indicated down triple digits once again. this is on top of a 200 point plus drop yesterday. it doesn't look like there's going to be a quick bounce back, at least not this morning. >> we have a number of newsmakers to help us make our way through all of this, get through these questions raised by the fed bank. including alfred broaddus and former minneapolis fed. we have john stumpf. cisco is going to h
FOX Business
Jun 21, 2013 11:00am EDT
that is something that is likely. you would have to see something happening much bigger in the overall economy. i do not think it is likely. >> during the recession, new home construction dropped by roughly half. now, thanks to supply and demand, we are starting to see what could be a very robust housing market. a great deal will depend on the broader economy. connell: david, thank you. david lee miller four us in the newsroom. great story. dagen: new regulations could create a labor shortage in that industry. connell: added to my long-standing theory. nevermind. twitter founder jack dorsey teaching small business leaders how to harness attention in social media. he sat down with our friend, peter barnes. talking about rates all day long. dagen: hello. connell: hey, how's it going? dagen: that is a big move. connell: exactly.% a big move from where we were. we will be right back with more "barkett now." ♪ i want to be prepared for the long haul. ishares minimum volatility etfs. foa smoother ride. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackr
FOX News
Jun 21, 2013 3:00pm PDT
the obama economy? this is "special report." good evening, i am chris wallace in for bret baier. investors and traders on wall street are breathing a sigh of relief, thanks to a break from two rough selloff days in the financial markets. chief white house correspondent ed henry reports there's one man that remains on the hot seat, federal reserve chairman ben bernanke. >> reporter: after two days of market melt downs and high anxiety about 401(k)s plunging again, the last thing president obama or his aides wanted to do today was try to decipher the words of the fed chairman, ben bernanke. >> how is the white house sorting out what he said? >> here is what i have to say about the markets and the fed chairman and fed policy. >> reporter: nothing to say. probably smart because the market settled today, with modest gains for the dow and s&p 500 and a small drop for nasdaq, after a two day global selloff for stocks, bonds, and commodities, sparked by a massive credit crunch in china, refusal by communist leaders to intervene by pumping cash into the system, coupled with bernanke's comment that
CNBC
Jun 21, 2013 1:00pm EDT
't think the economy is that strong yet. that would be another conversation on the line, but i think the interest rate -- the jump in interest rates is more once again of a knee jerk reaction. >> do you agree with that, because it does feel as though we're kind of at an infliction point in terms of rates, and this has been a really big backup this week in rates even though we're still at historically low levels. >> as much as i love kenny, i disagree with the big guy. an overreaction, no. we aren't seeing an overreaction. big ben. came out with the bernanke belly flop when he inadvertently suggested that they can move the stimulus or even taper on unemployment target. went from 6.9% up to 7%. that was huge, and that's when the ripple effects and the tsunami came into the treasury pits behind me. they began selling it, and right now, sue, severe technical damage, so the treasury market, obviously 7 and above, 2.40 in the ten-year note is very difficult. equity bounced off this 100-day moving average of 15.75 which coincides with the multi-year high. a lot of people were caught offside
MSNBC
Jun 21, 2013 12:00am PDT
economy, then you're going to be shocked by the report "rolling stone" has for us tonight. that's coming up. also a shocking turn of events on the house floor as the house speaker brings crucial legislation to the floor and watches it go down in flames. i'll tell you why what's bad for john boehner is good for the country. >>> plus bailouts of struggling casinos? it is also something that is totally happening. we begin tonight with a truly rare bit of genuine progress from congress. excellent news that nonetheless has me seething with anger. here's what's happening that's great news and infuriating. making sure 11 million immigrants are given a road to citizenship is trying to pass a bill by a huge margin in the senate. they are called the gang of eight and the reason they think they need the huge margin victory is to put pressure on house speaker john boehner to bring the legislation to the house floor even though it it will almost certainly not have the support of a majority of house republicans. so that's the game plan. the goal is get 70 votes in the senate, a goal that has seemed, w
MSNBC
Jun 19, 2013 3:00am PDT
economies in terms of -- because they need europe to be able to take their stuff. watch for china -- i don't know who's really running that country, but i can tell you this, their deceleration in economics is just incredible. it's not bringing us down. >> china may go down below 7%, 6% growth this err year. we are right now the tallest building in elmira, new york. >> it's the shung kamao bank. >> how do you know about elmira, new york? >> i come to play. >> you do come to play. we may be the tallest building in elmira, new york, but people keep buying the dollar. what are you going to do? go to europe? go to china? they're all train wrecks wait to go happen. >> you can't feed china. that's a big issue. 700,000 recespiratory deaths la year. let's go to john meacham. speaking of smoking, he smokes way too much. john, you look at europe, the g-8, they were all lecturing president obama three years ago. sarkozy, where is he now? who knows? he's probably staying at your place in the south of france. >> oh, no, unh-unh. >> but united states is in this strange position of just sort of crawling a
FOX Business
Jun 20, 2013 4:00pm EDT
many financial stocks particularly those exposed to the domestic economy. david: okay. >> the u.s. is well-capitalized -- david: i have to put you on pause there when you're on financials. we'll take issue with you. we have earnings coming in from oracle. jo ling kent what do the numbers look like? >> dave, we have an 87 cents per share eps which is exactly as expected. $10.95 billion which is a miss on revenue. breaking down numbers a little bit, we see a quarterly revenue of $849 million. what is interesting, new software license revenues were up 1.4% to 4 billion. they were expecting to see this go from, between 1 and 11% that is certainly on the low end. that is a very important area for oracle to grow especially if other companies get into this market. david: i want to go back to todd. we have a lot of news to cover i don't want to focus on any one stock but does this tell you anything about oracle? >> this is common throughout the entire earnings season. miss on the top line. that is the whole story. oracle looks pretty good chartwise. with the current market conditions it
FOX Business
Jun 21, 2013 8:00pm EDT
market in the end we have to ask ourselves is this economy ready. therthey see bernanke stepping k saying it will not happen immediately but it is going tt happen. it has the investors very concerned. charles: and economy bumping along at 2% per year, is it worth it? >> we should not lose sight of the fact ben bernanke, is reflected the most basic level the economy is improving. we are not facing the crisis we have faced for so many years now. reacting to what the meanings of these things are, but i choose to see it as the cup half full, getting the worst behind us. which is very encouraging news. charles: at them, what do you make the idea of the stock market should come down hard and fast what is supposedly good news. >> everyone who is in the market has to choose what it is they are interested in as an investor please send i am an investor. i don't care what happens today or yesterday with my personal investment in the way i approach the market, that is somebody else's problem. those people i am not saying they'rr using poor judgment or acting irrationally, i choose to understand that
CNBC
Jun 20, 2013 12:00pm EDT
of the economy that's buzzing? we'll ask the definitive voice on that suggest, ivy zelman, in a halftime exclusive. >>> mining for answers. what does china's manufacturing meltdown mean for stocks? a trader debate is ahead. >>> stocks falling hard and continuing that steep slide "today." the worst two-day drop for the dow this year. did ben bernanke kill the rally or is this the buying opportunity a lot of people have been waiting for? we're trading the fed fallout, what it all means to your money with joe terranova, josh brown, simon baker, and stephanie link. josh brown, answer that question. >> no, the rally has been killed. we haven't yet closed at a 5% connection yet but it looks like we're getting very close. what i would tell you is we've been beneath the 20-day moving average for almost a month now. so i think that rally that started from november has ended and now the only question is whether or not we're in a down trend or we're biding time until another leg up. i would tell you this is a massive carry trade unwinding. i would 234not want to be the ft one to dive in and say thi
CNBC
Jun 18, 2013 6:00am EDT
the eurozone economy, arguing that recent signs of market stabilization mean that the ecb's interest rates are becoming a more effective tool again. we'll see about that. >>> also, g-8 leaders are wrapping up a summit in northern ireland today. british prime minister david cameron has, of course, been the host. he says the goal of the group is to "fired up our economies and drive growth and prosperity around the world." we're going to have more, of course, from cnbc's steve sedgwick, who's on the ground there in that beautiful live shot in about 20 minutes. >>> meantime, time for "the global markets report." we'll go across the pond not to ireland, but to london, where ross westgate is standing by this morning amid a sea of green. a little bit of red around. how are you doing, ross? >> yeah, hey, andrew, pretty good. we're actually at the best levels of the session today here for european equities. advances out-pacing decliners by around about, what, 6-2, 7-2 on the dow jones stocks 600. it's been a mixed morning, but the ftse 100 now up 0.8%, despite the that is correct if inflation numbe
FOX Business
Jun 17, 2013 1:00pm EDT
, given the fact that we are becoming energies efficient with fracking? our economy is growing, the dow is up today 161 points, can we ignore the world events and continue to go on with the kind of relationships we used to need? >> no. i think it is more important that america become a player. we still have so many other issues. as the world is getting smaller, america must exert their influence in ways that were unforeseen 20 or 30 years ago. we have to be engaged. if we take an internal role of we are not needed as we were, i think that we do it at our peril. lori: a lot of economists are very concerned about this currency war that is underway. you have countries at the g8 representing $7 trillion in global economic wealth. do you think that that topic will come up? how do you realistically have a discussion about a trade deal if you do not talk about what is really going on. >> there is no question about it. if we will have a trade agreement, it has to be free, it has to be fair, and it has to be equitable to all parties. if one party has an upper hand, it is honored as a breach. com
CNBC
Jun 18, 2013 4:00pm EDT
'll give the economy before it decides to reduce the monthly asset purchases. to me, the market has kind of adjusted its own expectations both for the worse and better, much more than the fed's message has changed. so i feel like it's really a lot of suspension been drained out of this meeting. by the way, the market itself, the treasury yields have calmed down. >> all right. amy, let me ask you in terms of allocating capital. where are you seeing the flow right now in terms of putting money to work? where is the conviction out there? what sector? >> well, hi, maria. from an options perspective, it's pretty interesting, because i think a lot of folks out there would say the fed's probably not going to say too much tomorrow. it may delay things out later. our own house view is for an october tapering session. however, from the options point of view, you've actually seen short-term term structure come up. so to translate that, that's basically saying near term, more volatility is expected relative to the outer terms. so the options market is actually expecting something for tomorrow, and y
FOX Business
Jun 19, 2013 11:00am EDT
stuart. all eyes and ears on bernanke. president obama touts our economy during a news conference with german chancellor. they have been back in the skies for just over a month, but the boeing 7873 minor, there is more problems there. walt mossberg is back. he says intel has not been out of the park. ♪ connell: a big day today. we have walt mossberg. it has been a while. dagen: new and improved walt mossberg. connell: we are waiting on bernanke. we begin with nicole petallides. nicole: good morning. the dow jones industrials were down about 21 points will be kicked off this morning. they will let us know what they are thinking and following back, we will have bernanke answering questions. you can see the major averages down slightly to the downside. it used to be if the fed did this, the market would do this. because of the action and volatility that we have seen, the only thing is the market seems to move. every word means something else. if they taper, it means that the economy is getting better. connell: thank you, nicole. all eyes are on german bernanke. dagen: peter barnes
FOX Business
Jun 21, 2013 3:00pm EDT
economy wise that could come to fruition in the next couple of months. however, i think right now we have overcome it. in the next couple of days we are going to get back above $95 in crude oil. >> all rightquickly on japan. >> you know, everyone is talking about this right now. quantitative easing is the big thing. there seems to be a disconnect between china and japan. i don't have any clear-cut answer. liz: everyone needs to watch out. economics may not be what they seem. thank you for joining us. have a good weekend, guys. investors are switching away from oracle stock. this after the company's earnings report failed to excite anyone here. >> that is right, there is a lack of quarterly numbers that came out. revenue was a disappointment. see the stock isn't down 9% and it has been sitting there all day long. it sat there all day. what is also big news is we know the nasdaq and the new york stock exchange and anybody who knows these two know that they battle it out. they battle it out. oracle will be the largest to leave the nasdaq and come over to the new york stock exchange. that was
CNN
Jun 19, 2013 8:00pm PDT
about cutting back on the fed stimulus program which basically has been pumping money into the economy to keep interest rates low. that's helped prices for a lot of things, real estate, stocks included. we're now on round three of what i call, you know, pumping money into the economy. they call it quantitative easing. with their noses in the air. each of the new rounds has caused stocks to move higher. starting later this year, the fed will take the drugs away and may cut the addicts off entirely next year. ben white, chief economic correspondent for politico. ben, thank you. so people -- he comes out and says things are getting better. >> and the stock market tanks. >> you say what's wrong with these crazy people on wall street? americans say -- 44% of americans say they're worse off than they were a year ago. >> i think what it means for people who have a house who might want to refinance it, they should probably do it, because interest rates will go higher if the fed stops doing all this drug giving to the economy. so if you're going to refinance, do it now. if you're looking at a n
FOX Business
Jun 17, 2013 5:00pm EDT
on twitter. all right. next on "money," no matter how the economy's doing, apparently you can always bet on a sandwich. a huge expansion in the face of obamacare and stiff competition. the ceo joins us to explain how. but should executives be allowed to dump their company stock? bread before i ceo steps down. details on a growing controversy the chairman, that is all the work of the street. this is a good one. piles of "money" coming up. ♪ ♪ ♪ ♪ [ male anuncer ] if you c't stand the heat, get off the test track. get the mercedes-bz you've been burning for at the summer event, going on now at your authorized mercedes-benz dealer. hurry, before this opportunity cools off. going on now at your authorized mercedes-benz dealer. we replaced people with a machineer, what? customers didn't like it. so why do banks do it? hello? hello?! if your banksn't let you talk to a realerson /7, you need hello?y. ally bank. your money needsn ally. melissa: this is one of the issues that we talked about on our show. jobs in the economy. we know that it has been given how close the last few years. one
CNBC
Jun 19, 2013 6:00am EDT
about the underlying economy. >> it's the economico outlook. >> you don't think he'll use the word? >> i don't think he'll use the letter. >> people will ask questions. >> but as long as -- as long as it doesn't start with a t. if there is a t in the world somewhere, he may use it. >> we could have a drinking game. first question has to be about tapering. will use the word taper. >> either tape ever or your ter. >> i was at a party with a drinking game, but it was with lemonade. makes no sense. they're practicing for the day when -- legmonade, you'll just get sick. >> that's okay. learn a lesson. >> i know. >> let's take a look at europe. again, futures are indicated higher and that may be because the expectation is that the fed will in fact slightly lower their economic outlook. if that he another case, you would expect they would not be pulling qe anytime soon. but right now the market is barely bunching in europe. in asia, you can see the nikkei was up about 1.8%. so volatility continues there. hang seng down by just over 1%. oil prices right now are indicated up about 50 cents. wti i
CNN
Jun 20, 2013 6:00am PDT
.s. economy, but there would be a road map for when they would stop doing that. the u.s. economy was strong enough to get on its own two feet and unemployment rate got back 7%. take their foot off the accelerator is the way the fed chief put it. overnight, world markets started to react saying all the markets that had benefitted from the big flood of fed money into the world economy and all markets having a pull back to what would be the reality when the fed is not in the game. you see the dow down about 69 points right now and down 72. we'll continue to watch. we have seen triple-digit declines the last six or seven days in a row, carol. >> then it goes right back up. such a weird thing. >> very volatile and i'll let you know how this is playing out and whether they can absorb it all right today. >> thank you, christine. >>> other stories we're covering this morning. senate negotiators are expected to announce a deal today on an immigration reform bill that would increase border security as cnn first reported yesterday. the plan would double the number of patrol officers from the current l
FOX Business
Jun 20, 2013 5:00pm EDT
with a market massacre. ben bernanke saying if the economy continues to improve he will cut back on his 85 billion-dollar a month bond buying program by the end of the year. that reality terrifying wall street. because the market may have to stand on its own two feet. combine that with a massive credit crutch in china and u.s. markets got absolutely slaughtered today. the dow closing down a staggering 353 points. look at that. 2.3% there. if you control down on this market massacre, christian dorsey from the economic policy institute. sam stovall, chief equity strategist at s&p capital iq. gentlemen, thanks so much for joining us. sam, shouldn't have been that big after deal. all ben bernanke said, if the economy continues to improve we may taper back on the buying by the end of the year. not that they will stop it all together. not that they will sell what they already have. look at the big gyrations we've seen. doesn't that tell you how ugly and messy this does point -- dismount actually will be? >> it tells me more, melissa, we're end of june which is quarter ending month a lot of portf
FOX News
Jun 17, 2013 6:00pm PDT
that would help the economy and create a job? number three, lavish overseas travels come as government agencies are facing mandatory fiscal cuts. we can't open the white house to school kids because we can't afford it. we have joe trippe and jenny beth martin. time of honesty if we can't open the white house for school kids to go and see their house, do we really need to spend that kin of money, $6 0 million to $100 million on african, $3,300 a night, 30-person entourage to dublin. >> i doan know if any of those numbers are right? >> oh, they are right. >> are you doubting me? >> well, sean, i'm doubting whoever came up with these numbers. some people came up that his trip to india would cost $200 million and use 10% of the u.s. navy. notes numbers weren't right. >> "the washington post," a liberal newspaper, said $60 million to $100 million. >> sean, i'm not arguing with you. africa has large economic growth, a lot of room for american businesses to move in. creating jobs here and that's part of what the president intend to do while he's there. >> just like the stimulus was a great jo
FOX News
Jun 22, 2013 5:00pm PDT
a strong economy and have laws in place to make sure our economy is growing and creating opportunities and be the party that talks about strong families and communities and reach out to all ethnic groups and embrace what the great vision of our country is and playoff what the democrats are doing and be little less bad than they are. i think that is a mistake and we need to stay true to our values and that made the country great as it is today. >> you made the point that the republican's big problems is that they didn't vote for immigration package and connecting with hispanic voters. what do the republicans need to do differently. and those that articulate. and where is it that we are missing it? >> yeah, mike, you have been a great leader on this. i have to admit, and i did an a d on usa today. how we need to go out and talk to voters that frankly don't think we care much about them. they don't think we care much about them in part that we don't talk about the problems they have. our party tends to focus on the super achieve ors and focus on the entrepreneurs and listen to republicans
CNN
Jun 20, 2013 2:00pm PDT
to back off of this government program that has helped push the economy along and that has sent the markets in a tail spin. he used the word "taper", he's going to taper the program. what does that mean? well, imagine the economy to be like a kid trying to ride a bicycle after a spill, trying to get back on balance. the fed has been helping out to steady and push him along with about $85 billion a month in stimulus. ben bernanke has been looking at numbers saying housing is up almost 7% in may, unemployment 7.6%, not getting better but not getting worse, gdp, 2.6%, all of that he's saying is that all of this that is good enough that the government can start backing off and let the economy stand on its own a little more. i'll be there. if it gets in trouble, i'll step in and save it, it will be okay, there is what we should do. so why are the markets so troubled? partially because they're looking at the same numbers and they are not as confident. their sense is that if you step away from this economy right now and try to let it ride on its own, in fact you could have a lot of wob
ABC
Jun 20, 2013 4:30pm PDT
than 500 points lost in 48 hours as economists tell us that the economy is finally on the mend. what's going on here. rebecca jarvis leads us off. >> reporter: today's big drop is part of a roller coaster week for your money. the dow up or down triple digits every day. so what's driving the volatility? actually, good news. >> we are stronger, we are. our economy is getting better. >> reporter: the best month for existing home sales in three and a half years. and improvement in jobs. all of this means there's less need for this man, fed chairman ben bernanke to keep pumping billions into the system. >> the easiest way to say is that we have had training wheels on our economy for quite some time now and now we're getting word that these training wheels are going to have to come off, slowly come off and we're going to see if we >> reporter: the uncertainty also leading to higher mortgage rates, now above four percent for the first time in a year. but still some of the cheapest borrowing in history. for example, in california, the turnbull family can buy their dream home for about $2,000
CNN
Jun 20, 2013 11:00pm PDT
into the economy to prop it up to prevent a depression is going to start drying up. peter kenny is the chief market strategist at knight capital group. i guess the question is two days nearly 4%. makes people afraid. and it should make people afraid t. question is, is this temporary or something that could get worse and worse? >> it's a real wake-up call. i do think this is a short-term trend. given that, we are in a period of volatility since chairman bernanke did mention tapering back in may, which is where we had our highs. >> which means i will stop giving you this free market. >> meaning we have seen the most volatility all year. sideways to lower, the last two days significantly lower. there is probably some work to do on the downside in the near term. this is something that's needed. a pullback is needed. we need to get back to more compelling evaluations in the index stocks generally speaking. so it's not as if this is completely destructive. it's a question of a longer period of trend. >> it's pruning. >> that's a great example. >> when you look at five years ago when this whole, they call
CNN
Jun 21, 2013 3:00am PDT
of money they're pumping into the economy each month. >> we will ease the pressure on the accelerator by gradually reducing the pace of purchases. >> reporter: the second, overnight thursday, bad news from china. manufacturing production fell for the first time in eight months. a sign that one of the world's most powerful economies isn't growing as fast as it had been. the pros on wall street say this was bound to happen after months of gains and record highs. and in fact, the fed pulling back might be a good sign that the economy's getting better. >> there is no fear. there is no panic that's going on. but i think we do know that it's going to be a nice slow, orderly process to see if our economy can stand on its own again. >> reporter: that doesn't make yesterday any prettier, and stocks were only part of it. a metal meltdown. 2 1/2-year lows for gold and silver. gold, the shelter from the storm in the recession, is dropping like a rock, losing a quarter of its value to far this year. don't be too afraid to peek at your 401(k). even after yesterday's dramatic drop, the dow was up mo
CNBC
Jun 18, 2013 9:00am EDT
. >> and if we can be freed from some of the regulatory burdens, this economy could take off, and so will the stock market. >> thank you, sir. join us tomorrow. "squawk on the street" begins right now. >>> good morning and welcome the "squawk on the street." i'm david faber with jim cramer and scott right here. carl quintanilla is off this morning, and afterf a 100-point rally, the fed is under the microscope as it begins, you know it, a two-day meeting. the futures are holding onto the gains and consumer prices up one point in may, and housing starts rose above street forecast, but we are looking for a higher open. >> yes. >> and a actually more defensive. looking at europe, a mixed picture, and you can see it on the continent there, but a lot of green on the map. start with our own road map starting with day one of the fed meeting as the market swings over almost any mention on the word of the word taper. president obama hints that ben bernanke could be on his way out. scott? >> and david, here is sony activist dan loeb asking for a second time to spin off the entertainment arm. th
FOX Business
Jun 18, 2013 11:00am EDT
/11 to the american economy? trillions of dollars. think about the lies that have been saved. they will only tell us about a couple of those. they have to be careful about sources and methods. still needs oversight. congress should be looking at it closely. i am pretty comfortable with what they have laid out so far. connell: speaking of september 11 and attacks on our financial industry, general alexander have the following quote talking about rather being here debating this point in trying to explain how we failed to prevent another 9/11. do you think that these programs , you know, the internet surveillance or the phone collection, in terms of records, do you think that that would have prevented september 11? >> they did say something to this effect. he said they may have been able to track one of the 9/11 hijackers if they had this program before 9/11. that is if i heard it correctly. that tells you something. who knows where we would be today in our history if they would have been able to do that. connell: supporters of the nsa leaker say he has been able to prompt or develop this discussion th
FOX News
Jun 16, 2013 5:00pm PDT
's making out like a bandit. what i found was we basically have been living in two economies in this country for the last ten years, the economy you and i know, where people are hard pressed, jobs are tight, money is tight, then there's the health care economy where everybody is doing really well, except maybe the nurses and doctors. but the people that sell the equipment, the people that make the drugs, the people that run the allegedly nonprofit hospitals are all making ridiculous amounts of money. >> so you mean the doctors who spend 12, sometimes 15 years just preparing to be a doctor are making less money? >> far less. unless they've gained the system to start a clinic or send patients or they consult for a drug company, they're not making the big bucks. the guys who make the cat scan equipment or, you know, the pharmaceutical sales, pharmaceutical executives, the hospital administrators, your local nonprofit hospital, without even knowing it, i can tell you that the guy who runs your local hospital in little rock makes well over a million and a half dollars a year. >> far more than any
FOX News
Jun 18, 2013 4:00pm PDT
that they are not getting what they deserve from the government of the world's sixth largest economy. shepard? >> shepard: steve, these nationwide protests are reportedly some of the biggest demonstrations since the end of brazil's dictatorship back in '85. the country's military regime lasted for more than two decades back then. during that time, violent clashes often broke out between protesters and police. really not sense. authorities in turkey have banned large gatherings all together after weeks of violent antigovernment protests in a key city. so it's come to this. one man trying a peaceful solo protest and there he is. the guy on the right in the white shirt, stood alone for many hours last night. at istanbul's taksim square. stood there and stared. stared aportrait founded turkey as a secular state 90 years ago. many claim turkey's current leaders are forcing islamic agenda on them as word of this standing guy got out. several others stood just like him in different parts of the country. turkish officials say they will take no action as long as these silent protests cause nobody any harm. here a
FOX News
Jun 20, 2013 12:00pm PDT
to take his foot off the gas pedal no energy left for the economy. interest rates will rise, scenario that is horrible for american families. people are fareful of what happens when bernanke backs out, the federal reserves stops supporting the market. >> what they're doing is, quantitative easing is printing of money, putting more money in the economy, and the government spends a lot more money and allows the private sector to get its legs back under it. the government takes over when the people can't, and then when the private sector gets its legs under it, the government backs off. hasn't happened. >> the feds have been trying to push interest rates down and stimulate borrowing and lending. the fed has kept saying, okay, we acknowledge we're sort of printing money but we think weeing pull that money back when the time comes. and that's not the issue. the hirsh here, number one, this is a market overreaction to what bernanke, the chairman of the fed, actually said yesterday. he did not say we're going to stop this program. he didn't even -- the program didn't even change. these were
CNN
Jun 19, 2013 4:00pm PDT
, talking about pumping money into the economy to keep interest rates low. we have all gotten pretty addicted to ben's drugs. we are oon round three of what i call pumping money into the economy, they call quantitative easing with their noses in the air. you can see each of the new rounds has caused stocks to move higher. as they started to end stocks fell and back up against. starting later this year the fed will start taking the drugs away. outfront ben white chief economic correspondentic. so he comes out and says things are getting better. >> and the stock market tanks. >> americans say they are worse off now than they were a year ago. that is more than say they were betterer off. what does today's news mean for people with a nest egg and a house under water. >> people with a house who want to refinance should probably do it because interest rates will be going a little higher if the fed stops this drug giving to the economy. if you are going to refinance do it now. a new home purchase do it sooner rather than later. in terms of stocks hold on to them. wait this out. it is going
MSNBC
Jun 18, 2013 3:00am PDT
and 2011. their take went from 10% to 20% of the whole. we live in a superstar economy. >> e.j., we live in a superstar economy. you base your column in a speech that was actually given by alan krueger at the rock and roll hall of fame in cleveland. talking about the dangers of growing in come inequality. we hear it from the left and the right. alan greenspan says it's one of the greatest threats to american capitalism. what do we do about it? >> there's a number of things we can do about it. i thought the speech was very powerful because how do you get people to talk about inequality. putting it into the context of rock, the theme really is, it's a long way to the top if you want to rock and roll. the difference between the top and the bottom is bigger. i think we're taking some steps already on taxation. i think we need to do a lot more to help people at the bottom end of the economy stay in school longer, go to community college. i think that's part of it. but we also need just a fair bargain between labor and capital. justin wolfer, the economist, put out some charts yesterday that s
CNN
Jun 21, 2013 6:00am PDT
year and they're concerned what the fed is going to do when they stop supporting the economy probably some time into next year. you'll see this gut check where people are taking money off the table. >> christine romans reporting live from new york city, thank you. >>> six women, six women, just women would decide the fate of george zimmerman and remember race could be a key factor to this case. five of thez women jurors are white. one is described as hispanic or black. opening statements now set for monday. also, today the judge will rule on a controversial voice analysis of the screams heard on this 911 call. >> does he loohurt to you? >> i can't see him. i don't want to go out there. i don't know what's going on. >> do you think he's yelling help? >> yes. >> all right. what is your -- >> all right, you heard the screams in the background. the prosecution wants to show it was trayvon martin's voice. if so, that could hurt zimmerman's self-defense claim in shooting zimmerma eme eme em was unarm aed. >>> also new information this morning in the sudden death of james gandolfini. hotel s
CNN
Jun 20, 2013 5:00pm PDT
, the fight that affects millions of people and could reshape the economy and job market and could reshape america's border with mexico but on top of that is a battle in many ways for the future of the republican party, immigration reform. today in the senate offered an amendment calling for 20,000 more border agents and completing a fence to beef up republican supports if the larger reform bill passes the senate, republicans in the house will support it. that, however, is a big if. dana bash is here to explain why. dana, it goes back to border security for republicans. does it look like this bill, at least as it now stands, is tough enough on boarder security to get republican support? >> reporter: it's tougher and looks like it could. it's not a question in the senate whether or not immigration reform will pass but by a lot of votes and talking to republican sources, they think that this beefing up the border security will bring maybe ten to 12 republican senators near it that wouldn't before hand. supporters say they need maybe up to 70 votes in the senate to give this issue momentum he
MSNBC
Jun 19, 2013 5:00pm PDT
the economy's bad it increases, when the economy's good, it goes down. the reason we don't have mass starvation is this program is helping tens of millions of american families survive. the facts are, before the 1970s, when we did have the program, we had third world style malnutrition. these programs almost entirely ended hunger in the 1970s. >> that used to be a bipartisan understanding. bob doll is one of the founding fathers of this program. and it used to be a way to help farmers and families. there's a business case for continuing these programs. the biggest recipients of the money. it's all cycled back into the economy. >> no one's saving -- companies like kraft that make the boxed food that's inexpensive to buy, companies like walmart, supermarkets, all plow in the money from these food stamp programs. we also had this interconnectedness of our safety net programs that's going to make this a double problem. feeding america that operates lots of food banks around the country sent out an alert saying, you have kids who get free and reduced lunch because their families are eligi
MSNBC
Jun 17, 2013 3:00am PDT
by the french and germans? >> on the economy it's pretty good. but there's a whole other part of discomfort, if you will, with some european leaders and it more has to do -- their reaction to president obama is just like any other politician's reaction to a politician that may not be as popular as they once were. president obama, the nsa things do not play well over here. there has been a frustration by some on the left in europe that president obama hasn't addressed the issue of climate change more aggressively. that's always been a much more important issue to europeans than it ever has been in the united states. and you sort of take all of that into account and so there certainly is -- you know, the shine has worn off. two years ago when president obama would come over here, you know, you know, figuratively throwing rose pe petals at his feet. he still has a huge audience a few hours ago in belfast for a speech he gave that was addressing northern ireland youth. he's going to get a huge number of people at the brandenburg gate when he makes that speech on the 50th anniversary of jfk spee
CNBC
Jun 14, 2013 9:00pm EDT
the population is in decline, and the gaming industry is in desperate shape, but the slowing economy didn't stop wynn from opening his most opulent casino-resort yet, the encore. charlie rose, who has known steve wynn both personally and professionally for about 15 years, was on hand during encore's opening night back in 2008. >> if all of our customers and friends are at the tables, gentlemen and ladies, place your bets. let the games begin. [cheers and applause] >> at 67, steve wynn is a legend in las vegas... >> if you're gonna start a gambling joint, start a gambling joint. >> the man with the midas touch who added glamour to the gambling industry. >> isn't this fun? >> it's perfect. >> even in this recession, thousands came to try their luck at his new casino. >> that's what i'm talking about! >> whoo! >> encore cost nearly $2.3 billion, a risky bet in a bad economy. why, in this economic environment, would you open a hotel? >> well, i'll tell you right now that if i had any idea this-- i wouldn't, if i had a choice, but this project was started four years ago. these things have a huge lead
CNBC
Jun 16, 2013 11:00pm EDT
of anything that harry or the sec did. in a bad economy, madoff's lies simply collapsed under their own weight. >> no one was investigating mr. madoff at the end. >> kroft: so he turned himself in before anybody in a position of authority began a serious investigation? >> that's typically how the sec does it. they come in after the crime has been committed, they toe-tag the victims, count the bodies, and try to figure out who the crooks were after the fact, which does none of us any good. >> stahl: the mastermind of the ponzi scheme of all ponzi schemes, bernard madoff, may be in prison, but he is hardly forgotten. his untidy little business that bilked thousands of people out of billions of dollars is no more, but the big question, "where did all the money go?" remains unanswered. irving picard is the court-appointed trustee assigned to find that money and return as much of it as possible to madoff's investors. it's a daunting and thankless task, for while he's suing whoever he can on behalf of the victims, he's also suing many of the victims, those, who he says, benefitted and should have kn
CNN
Jun 16, 2013 6:00am PDT
conversations than i'm equipped for, because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. i am an american i'm a teacher. i'm a firefighter. i'm a carpenter. i'm an accountant. a mechanical engineer. and i shop at walmart. truth is, over sixty percent of america shops at walmart every month. i find what i need, at a great price. and the money i save goes to important things. braces for my daughter. a little something for my son's college fund. when people look at me, i hope they see someone building a better life. vo: living better: that's the real walmart. foour neighbors.... and our communities... america's beverage companies have created... a wide range of new choices. developing smaller portion sizes and more.. low and no-calorie beverages... adding clear calorie labels so you know... exactly what you're choosing.
FOX News
Jun 18, 2013 6:00pm PDT
economy, and it's happening every day. it's a perfect example of the waste, fraud and abuse going on because of bloated government. >> what's your reaction? >> i can't believe you guys are making this example. first of all, danine is talking about an underground economy, you're talking about it coming out of the taxpayer's pocket. both wrong. this is a universal fee charged everyone with a cell phone. let me finish. they finish, they have this charge because of access for people in poor areas of the country. you have to be in poverty to qualify for one of these phones. you get 90 minutes a month so an employer has a contact number. these are legitimate reasons. >> there are 10 million people who are getting these phones. >> i'm sorry we have that many poor people. it wasn't started. people call it obama phone, it started under ronald reagan. >> it started under them, it was wrong now, it's wrong now. >> it's not an example of an entitlement president, welfare excess, it's a good program started by a republican president that had some fraud and has to be addressed. >> it's not the
FOX News
Jun 18, 2013 7:00pm PDT
, plus the anemic economy have undermined people's confidence in his credibility and integrity. 45 approve, 57 disapprove. the lowest, 34/64, the previous low was in august of 2011. strong leader, 52-48. it's the lowest since january 2012. and the lowest of his entire term was 48-52. managing the government effective i lrks 47-53, the lowest since september 2011, and not a typical politician, lowest in office. when he came into office, it was 63-36. >> i suppose his trip overseas, he had to go to the g-8, it does have the appearance of getting out of dodge. he doesn't realize all these numbers are sinking in, he needs to talk to us, he needs to come back to talk to the american people. bad timing, though. >> the g-8 from his perspective was at an unfortunate time. this has all been happening, and he squandered the weeks leading into this, we've known about the -- some of these things for going on three and four and five weeks, benghazi obviously longer than that, the irs scandal, the ap records, the leaks and these things have been out there for anywhere from a week to ten days to
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